Two Cents Worth

Again with a tip of the hat to Blackie Sherrod, the greatest sports writer ever, I offer these tidbits of wisdom or poltoonery for your amusement or consideration.

Last year we had the special program to aid home owners who were defaulting on their mortgages.  It had a catchy name like Home For Homeowers or some such.  A couple of months ago the new guy came out with another one to spur new home sales throught FHA funding.  Again you don’t have to prove much other than employment and you certainly don’t have to come up with any money down at the closing to purchase your home.  The Feds will kick in 8 grand for your down payment and they encourage you to get other help with closing from grants from NGOs.  Sure sounds like merely an update to the CORE program that got us into the sub prime mortgage crisis in the first place.  Under that program you will recall that the banks were required, not merely encouraged, to make a certain percentage of their loans to the “disadvantaged” who couldn’t meet the ordinary credit requirements for a mortgage.  We all know how that worked out for us.  What genius in the new white house suddenly that a skunk wrapped in Christmas paper would smell better?

Now that Governement, Inc will be the majority owner of GM I wonder how the future product liability cases will fare.  I note that after intense negotiations that those claims will be going to the “new” GM.  You think the trial lawyers had any input in those conversations?   When the suits actually hit the courts it will be curious to see how Government, Inc. defends them.  I assume the government would like for GM to make some profit but it can’t afford to offend one of its masters–the trial lawyers association.

You know there is something fundamentally wrong with the proposed card chek program to allow unions to sign up new recruits and form a union without an election when George McGovern is opposed to it.  He is the orginal liberal icon and he thinks it is a dangerous idea to abandon the secret ballot for these matters.  After he left public office he owned and operated a hotel.  That was his first venture into the private market place and he got a new perspective on things.  It would be wonderful if all our politicians had some real world experience rather than coming out of academia or government.

Why is it that the administration was so hesitate to condemn the Iranian government and support the people in the streets but it only took 24 hours for it to be all over the Honduran congress and people for throwing out a socialist despot like Zelaya?  The guy was violating the constitution and ignoring the rule of law and the people there responded with their Supreme Court and the legislative branch to restore it.  But our government condemns them.  Couldn’t we have just been quiet a few days at least and see how events turned out like he did with Iran?   It is reminiscent of Allende in Chile over 30 years ago.  Folks only hear the liberal media version of how that ouster came about and forget that he had thrown out the rule of law and was ruling by fiat and edict when the governing congress there called for his removal.  He was trying to establish a communist dictatorship without any allowance for democratic reforms.  In fact the Chileans have done quite well since his overthrow and you would be hard pressed to find any Allende sympathizers except in the editorial room of the NY Times.  Good luck to Honduras.

First TARP was not used for its intended purpose to buy toxic assets and now the PIPP program is being abandoned also.  You recall its annoucement a couple of months ago to great fanfare about buying up all those toxic assets with those partnerships of government and private investors.  Read the news and you will see that it has cratered before it even started.  Ain’t going to happen or at least the scale will be so different as to be unrecognizable from the original announcement.  None of the major players are going to be involved and they aren’t going to be buying a trillion dollars worth anymore of those mortgages but now maybe buying some of the securities backed by them.  Government, Inc. quickly learned that no one wanted to be their partners in business.  Imagine that after the vilification that government officials starting with the new guy have been heaping on their heads since day one.  Why partner up with someone who runs you down and you know won’t keep their word and will change the rules of the game anytime the political winds change direction.

Australia and New Zealand are two very left leaning countries and very progressive on all social and envoirnmental issues.  You haven’t seen much press about it but both of them are reversing course on their programs to reduce global warming.  A complete turnaround.  They have serious questions now about the basic science and whether it is a change at all and if so whether it is due to activity of us huminoids.

I wish I could remember why all the planets and stars are spherical.  I know it has to do with physics and gravity and a certain critical mass amount.  The small comets and such are not necessarily round but once a certain size is reached gravity requires that the shape be an orb.  http://www.olcranky.wordpress.com

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Filed under Astronomy, business, Economics, Environment, Foreign Affairs, Global Warming, government

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